Samsung Electronics invests $17bn into new US semiconductor facility
Samsung Electronics is investing an estimated $17bn into the US with a new semiconductor manufacturing facility in Taylor, Texas.
The South Korean company said the new facility will manufacture products based on advanced process technologies for use in areas such as mobile, 5G, high-performance computing (HPC) and artificial intelligence (AI).
Kinam Kim, Vice Chairman and CEO, Samsung Electronics Device Solutions Division, said: “As we add a new facility in Taylor, Samsung is laying the groundwork for another important chapter in our future.
“With greater manufacturing capacity, we will be able to better serve the needs of our customers and contribute to the stability of the global semiconductor supply chain.
“In addition to our partners in Texas, we are grateful to the Biden Administration for creating an environment that supports companies like Samsung as we work to expand leading-edge semiconductor manufacturing in the US.”
Groundbreaking will take place in the first half of 2022 and the facility is expected to be operational in the second half of 2024. The Taylor site will span more than 5 million square meters and is expected to serve as a key location for Samsung’s global semiconductor manufacturing capacity along with its latest production line in Pyeongtaek, South Korea.
The total expected investment of $17bn, including buildings, property improvements, machinery and equipment, will mark the largest-ever investment made by Samsung in the US. This brings Samsung’s total investment in the US to over $47bn since beginning operations in the country in 1978, where the company now has over 20,000 employees across the country.
This latest expansion of Samsung’s US presence is expected to create over 2,000 high-tech jobs directly and thousands of related jobs once the new facility is in full operation. As part of its co-investment in the community, Samsung will also contribute financial support to create a Samsung Skills Center for the Taylor Independent School District (ISD).
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